Industrial Silica Market: Overview
The growth of the global industrial silica market is chiefly driven by the increasing demand for industrial silica for the manufacture of fiberglass. Fiberglass is widely used across numerous end-use segments because of its outstanding mechanical properties such as highs strength, resistance to heat and corrosion, and low weight. Owing to these properties, many governments such as in China are offering substantial subsidies for the production of fiberglass. This has considerably spurred the demand for fiberglass and thus in turn propelled growth of the global industrial silica market. Another important driving factor for the growth of the global market is the rising demand for industrial silica from the steel foundries. With many beneficial features such as chemical inertness, high purity, consistent particle shape and size, and easy compatibility with other chemical binders, the demand for industrial silica has surged in the steel foundry segment. Development of the foundry sector thus, will boost the growth of the global industrial silica market.
The global silica market stood at an overall valuation of US$18.75 bn in the year 2016. The global revenues of the industrial silica market are estimated to rise up to US$32.98 by the end of the forecast period of 2017 to 2025. This growth is expected to be achieved at a CAGR of 6.6% over the course of the given forecast period.
Fiberglass to Remain Important Application Segment of Global Industrial Silica Market
In terms of applications of the global industrial silica market, fiberglass segment stands out with respect to other segments such as addictive, foundry work, reinforcing filler, sodium silicate, oil-well cement, cultured marble, glass and clay production, and ceramic frits & glaze among others. Fiberglass segment has been gaining traction across the world because of its excellent mechanical properties. It held over 25% of the overall market share in terms of volume of the global industrial silica market in 2016. Along with the segment of fiberglass, other segments such as glass & clay and additives are also expected to drive the global industrial silica market in the coming years. The application segment of reinforcing filler is expected to grow at a healthy CAGR of 6.7% during the course of forecast period of 2017 to 2025 in relation to revenues. In addition to this, glass and clay production and sodium silicate also held a substantial share in the global market of industrial silica in 2016.
Presence of Large Number of Manufacturing Plants to Speed up Growth Rate of North America
Geographically, the global industrial silica market can be divided into key regions such as Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. Among the mentioned segments, Asia Pacific dominated the market in the year 2016 and accounted for over 40% of the overall market share related to both revenue and volume. China has emerged as one of the key manufacturers of industrial silica in the Asia Pacific region with it accounting for nearly 35% of the total volume share of the Asia Pacific market in 2016. There has been a considerable demand from multiple segments such as foundry, fiberglass, clay and glass. This has chiefly driven the industrial silica market in the region. Application segments such as sodium silicate, glass & clay production, and fiberglass jointly held almost 55% of the overall market share of the Asia Pacific industrial silica market. However, in the coming years of the forecast period, segments such as additive and foundry are expected to contribute significantly to the development of Asia Pacific market for industrial silica.
North America market was next in line after Asia Pacific in terms volume share. However, it is projected that North America will surpass other regions with respect to growth rate in the coming years owing to large number of manufacturing plants of several prominent companies in Canada and the U.S.
Some of the key companies in the global industrial silica market include names such as Saudi Emirates Pulverization Industries Company, International Silica Industries Company Plc., Short Mountain Silica, AGSCO Corporation, and FINETON Industries Minerals Limited among others.
Global Industrial Silica Market: Overview
Demand for fiberglass is high, due to its excellent functional and mechanical properties such as low weight and resistance to corrosion and heat. Thus, these resins are used in a wide range of end-user industries such as automotive. Usage of fiberglass in wind turbines is the fastest-growing application segment due to high demand for renewable energy and fast installation rate of wind turbines across the globe. Besides this, the fiberglass industry in China obtains subsidies from the government, enabling it to export fiberglass at a low cost to Europe and North America. Therefore, rising demand for industrial silica from fiberglass application is expected to drive the industrial silica market during the forecast period. Oil well cementing is one of the key operations in the oil & gas industry. A blend of amorphous, spherical, micro-silica in combination with industrial silica provides higher temperature sustainability. The blended mixture increases temperature resistance to a large extent. Therefore, rising demand for high temperature cementing in oil wells is anticipated to provide lucrative opportunities for the industrial Silica market during the forecast period.
This study analyzes, estimates, and forecasts the global industrial silica market in terms of volume (Kilo tons) and revenue (US$ Mn) from 2016 to 2025. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period. The report provides a detailed view of the industrial silica market based on applications. Key applications included in the report are sodium silicate, fiberglass, cultured marble, additive, reinforcing filler, foundry work, ceramic frits & glaze, oilwell cements, glass & clay production, and others (pharmaceutical, etc.). Furthermore, the report segments the market based on key geographies such as North America (the U.S., Canada), Europe (France, Germany, Italy, U.K, Rest of Europe), Asia Pacific (China, Japan, ASEAN, Rest of Asia Pacific), Latin America (Brazil, Mexico, Rest of Latin America), and Middle East and Africa (GCC, South Africa, Rest of Middle East & Africa). It also provides market volume and revenue for each application under every regional segment. The industrial silica market is further analyzed into major countries of each region.
Global Industrial Silica Market: Research Methodology
Primary research represents the bulk of our research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases. Other sources include national government documents, statistical databases, and market reports, news articles, and press releases and webcasts specific to the companies operating in the market.
Global Industrial Silica Market: Market Segmentation
Based on applications and countries, the report analyzes the attractiveness of each segment with the help of an attractiveness tool. The study includes value chain analysis, which provides a better understanding of key players in the supply chain (from raw material manufacturers to end-users). Additionally, the study analyzes market competition and industry players using Porter’s five forces analysis.
Global Industrial Silica Market: Competitive Landscape
The report includes an overview of the market share of key companies in the global industrial silica market. Key players profiled in the industrial silica study include Premier Silica LLC, International Silica Industries Company PLC, U.S. Silica Holdings Inc., Sil Industrial Minerals Inc., Adwan Chemical Industries Co. Ltd, Delmon Group of Companies, Opta Minerals Inc., Al Marbaie Est., Saudi Emirates Pulverization Industries Company, Short Mountain Silica, AGSCO Corporation, Al-Rushaid Group, and FINETON Industrial Minerals Limited.
The report segments the global industrial silica market into:
- Industrial Silica Market – By Application
- Sodium Silicate
- Cultured Marble
- Additive (Paints, etc.)
- Reinforcing filler (plastics, rubber, etc.)
- Foundry work (metal alloy, etc.)
- Ceramic frits & glaze
- Oilwell Cement
- Glass & Clay Production
- Others (Pharmaceutical)
- Industrial Silica Market – Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- North America